Wells Fargo & Company Cuts Lear (NYSE:LEA) Price Target to $114.00

Lear (NYSE:LEA) had its price target cut by research analysts at Wells Fargo & Company from $131.00 to $114.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has an “equal weight” rating on the auto parts company’s stock. Wells Fargo & Company‘s target price suggests a potential upside of 5.51% from the stock’s current price.

LEA has been the topic of a number of other research reports. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $132.00 price objective on shares of Lear in a research note on Tuesday, September 10th. UBS Group reduced their price objective on Lear from $136.00 to $128.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. Bank of America dropped their target price on shares of Lear from $205.00 to $185.00 and set a “buy” rating for the company in a report on Monday, July 22nd. StockNews.com raised shares of Lear from a “hold” rating to a “buy” rating in a research note on Friday, July 26th. Finally, Evercore ISI dropped their price objective on shares of Lear from $155.00 to $145.00 and set an “in-line” rating for the company in a research note on Monday, July 15th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $149.70.

Lear Stock Down 1.8 %

Shares of LEA stock traded down $1.97 during trading hours on Friday, reaching $108.05. 110,850 shares of the company’s stock were exchanged, compared to its average volume of 636,547. The company has a current ratio of 1.34, a quick ratio of 1.04 and a debt-to-equity ratio of 0.56. The company has a market cap of $6.14 billion, a price-to-earnings ratio of 11.78, a P/E/G ratio of 0.41 and a beta of 1.45. Lear has a fifty-two week low of $101.67 and a fifty-two week high of $147.11. The stock’s 50 day moving average is $114.28 and its 200-day moving average is $124.32.

Lear (NYSE:LEA) last issued its earnings results on Thursday, July 25th. The auto parts company reported $3.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.34 by $0.26. The company had revenue of $6.01 billion during the quarter, compared to analyst estimates of $6.02 billion. Lear had a return on equity of 14.75% and a net margin of 2.30%. The firm’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter last year, the business posted $3.33 EPS. Analysts predict that Lear will post 12.79 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Lear

Large investors have recently bought and sold shares of the stock. Headlands Technologies LLC acquired a new position in shares of Lear during the first quarter worth about $29,000. Riverview Trust Co acquired a new position in shares of Lear during the 1st quarter worth about $32,000. Altshuler Shaham Ltd acquired a new stake in shares of Lear during the 2nd quarter worth about $26,000. EverSource Wealth Advisors LLC lifted its stake in Lear by 70.5% during the second quarter. EverSource Wealth Advisors LLC now owns 266 shares of the auto parts company’s stock worth $32,000 after purchasing an additional 110 shares during the last quarter. Finally, Central Pacific Bank Trust Division purchased a new position in Lear in the first quarter valued at approximately $62,000. Hedge funds and other institutional investors own 97.04% of the company’s stock.

Lear Company Profile

Lear Corporation designs, develops, engineers, manufactures, assembles, and supplies automotive seating, and electrical distribution systems and related components for automotive original equipment manufacturers in North America, Europe, Africa, Asia, and South America. Its Seating segment offers seat systems, seat subsystems, keyseat components, seat trim covers, seat mechanisms, seat foams, and headrests, as well as surface materials, such as leather and fabric for automobiles and light trucks, compact cars, pick-up trucks, and sport utility vehicles.